Virgin 0% BT deal ends... they up my rate to 25.7% (instead of standard 15%)!

Morglin

Play.com (via MBNA) are offering a card with nil percent for balance transers (and purchases) at the moment The interest rate (when it returns to normal) is quoted as 15.9%.

Lin

Strapped

minimike2 wrote: »

Virgin did the same to me, but luckily my initial 0% had already run out and I had cleared the balance then negotiated a 9 months at 2.9% deal - so given me some time with a low rate. Looking to shift it to the Halifax card - Just got approved with £4k limit for it today so they must have plenty of funding to back them. Wonder if Virgin will then offer another deal.... i think not this time, they obviosuly want to get rid of people. Odd if you ask me considering the current offers they have... must be costing them a fortune.

Minimike, did you do a balance transfer on this deal, and was there a fee for it? 2.9% for 9 months without a fee is fairly interesting...

dvs

MBNA don't usually allow balance transfers from one of their cards to another. As Virgin is an MBNA run card, you'll need to find a card that is not run by MBNA.

Did Virgin not give you the option of closing the account and paying off the balance at the orginal standard rate until paid off?

minimike2

Yes it was a balance transfer deal, following on from the end of my initial 0% deal. I had to clear the full balance first (so used a flexi loan account I have), then they offered the 2.9%. Had to pay a 2.9% BT fee on the full balance, but over the nine months it was still saving a hefty amount. They seemed to like the number 2.9% at the time of my phonecall

oceanscape

Same thing happened to me....as soon as my 0% BT deal on my Virgin Atlantic AMEX ended, they smacked up the interest rate to 29.9%!!!